Cyber security and digital trust
Spot digital and technology security risks and reduce them
Putting business continuity plans to the test across three continents
Financial services organisation NEX Group had developed sophisticated continuity plans to offset the growing risk from cyber-attacks. Despite thorough preparations, they hadn’t gauged the effectiveness of these plans should an attack happen. Using simulated scenarios, we helped co-ordinate tests to ensure NEX realise the strength of their contingency plans.
Co-ordinated business continuity tests across three continents
Improved client confidence in dealing with potential cyber attacks
Delivered policy improvement recommendations
NEX Group runs electronic trading platforms that connect buyers and sellers across the global financial community. Trades worth more than $650 billion dollars flow through the group’s systems every day, and customers, including banks, asset managers, hedge funds and corporates, expect service 24/7.
NEX’s sophisticated business continuity plans, which span a complicated organisational structure, are designed to keep their platforms running in the event of a crisis – or at least to minimise down-time. But the group wanted to check just how resilient the business would be in the event of a cyber-attack.
Our crisis management experts designed an exercise to put NEX’s plans to the test. First we identified a scenario that represented a realistic threat across all business areas. Then we set up and ran an event designed to feel as life-like as possible for the people who would take key decisions in the event of a crisis. That included the group’s executive directors, and country and business heads around the world. Our team facilitated a series of co-ordinated exercises in locations on three different continents to simulate a complex cyber-attack. The team simultaneously observed how participants responded under pressure and how well NEX’s policies and protocols worked.
“In PA, we have a partner we can trust with our most senior boardroom executives. Their collaborative approach was exemplary – there was never any sense of ‘them’ and ‘us’. This was exactly what we needed in a highly pressurised environment where they were helping simulate an event that could threaten our business. They planned meticulously and used their technical experts to provide insight. The result was a highly engaged boardroom that now understand how to best protect our business operations during times of crisis.”
Our follow-up report identified opportunities to sharpen policies, improve internal communications and make better use of social media. Thanks to our work, NEX Group can be confident their business continuity planning is keeping pace with the fast-evolving threat of cyber-attacks. And confident they’re as well prepared as possible to keep services going in the event of an attack.